Friday , February 23 2018
Breaking News


Brussels vows to push ahead with digital tax plans aimed at tech giants like Amazon


BRUSSELS: Corporate tax frameworks were conceived in a pre-internet age and are confounded by today’s globalised and digital companies. That calls for a fundamental overhaul of our corporate tax systems,” he said. Proposals will be made by Moscovici next month. The European Commission last September outlined how it might “ensure that the digital economy is taxed in a fair and ... Read More »

Facebook loses belgian privacy case faces $125m fine


BRUSSELE: Belgian court threatened Facebook (FB.O) on Friday with a fine of up to €100 million ($125 million) if it continued to break privacy laws by tracking people on third-party websites. In a case brought by Belgium’s privacy watchdog, the court also ruled that Facebook had to delete all data it had gathered illegally on Belgian citizens, including people who ... Read More »

Belgian court orders Facebook to stop tracking web users


BRUSSELE: A Belgian court on Friday ordered Facebook to stop tracking internet users in Belgium who have no accounts with the social network, or face fines of 250,000 euros a day. The California-based firm vowed to appeal the ruling amid increased efforts in Europe to boost privacy protections in a digital economy dominated by US giants. Facebook must “stop following ... Read More »

Revenues from Belgian stock exchange tax


BRUSSEL: The value is one-third more than in 2016, as well as being the most significant total amount in such tax, since the dot-com bubble burst in the year 2000. The tax on stock exchange transactions is a tax on the sale and purchase of shares and bonds, and the sale of capitalisation funds. There are several reasons for this ... Read More »

Stamps feature three Belgian exports diamonds


BRUSSEL: Diamonds, beer and the Smurfs are making return appearances on the stamps of Belgium. Just in 1983 and 1984 alone, Belgium honored the diamond industry on a 10-franc stamp (Scott 1155), pictured a mug of beer on a Made in Belgium stamp (Scott 1162), and showed a Smurf letter carrier on a Youth Philately stamp (1182). These subjects are ... Read More »

Belgium enacts major corporate income tax reform


BRUSSEL: Some provisions of Belgium’s corporate income tax reform went into effect on January 1, others will enter into effect on January 1, 2019, or January 1, 2020.  As part of this reform, Belgium reduced its corporate tax rate from 33.99% to 25%. This rate drops further to 20% for the first EUR 100,000 of profits for SMEs.  For 2018 ... Read More »

Belgium emerging dynamics and future of passenger cars and commercial vehicles


BRUSSEL: The automobile market in Belgium provides comprehensive analysis and forecasts of passenger cars, light commercial vehicles and heavy commercial vehicles. Evolving market dynamics, customer preferences and business strategies of industry leaders are included. The research report provides in-depth SWOT analysis of different vehicle market subtypes including PCs, LCVs, heavy trucks, buses, vans and motor cycles. Historic data on the ... Read More »

Corn soy and wheat export sales outstrip average trade expectations


BRUSSELE: Corn, soy and wheat outstripped average trade expectations in this week’s USDA report, all coming in at the top end of estimates. Corn export sales totalled 1.77 million mt in the week ending February 1, according to figures released by the USDA Thursday, compared with estimates of between 1.3-1.9 million mt. The figures were down 4% on the previous ... Read More »

PHL lifts ban on poultry from Belgium


BRUSSEL: The Department of Agriculture (DA) said traders may now resume importing poultry from Oostkamp and Menen in West Flanders, Belgium, as these areas are already free from the highly pathogenic avian influenza (HPAI). The DA issued Memorandum Order (MO) 2 authorizing the lifting of the temporary ban on poultry imports from Oostkamp and Menen. MO 2 was issued after ... Read More »

Belgian business urges Lufthansa not to merge Brussels Airlines with Eurowings


BRUSSELS:  Nearly 100 Belgian companies called on Monday for Germany’s Lufthansa to keep Brussels Airlines based in Belgium and not to merge it with Eurowings, as the German carrier replaced the Belgian airline’s top management. Lufthansa (LHAG.DE), which took control of the Belgian national flag carrier in 2016, on Monday appointed a new chief executive officer and chief operating officer ... Read More »

Google is investing €250m into its third data center in Belgium


BRUSSEL: Google has announced plans to expand its data center campus in Saint-Ghislain, Belgium. According to local business publication  the company is planning to invest €250 million ($311.4m) into the new facility, and another €3 million ($3.73m) into a nearby solar power farm. The announcement was welcomed by Belgium’s Prime Minister, Charles Michel, who said that it came at an important ... Read More »

Brussels praises Ireland reforms to tackle corporate tax avoidance


BRUSSELS: Concerns in Brussels about Ireland’s corporate tax regime have abated as a result of reforms introduced by the government, a vice-president of the European Commission has said. Valdis Dombrovskis praised the closure of a loophole that had enabled global companies to channel billions in revenues through Ireland as well as the government’s commitment to share tax information with other ... Read More »

Belgian prime minister’s visit to benefit countries’ economies


BRUSSEL: Belgian Prime Minister Charles Michel will benefit the economies of the two states. I am confident that your visit will benefit our countries, our economies,” Putin said as he met with the Belgian prime minister. He also drew attention to the long-standing relations between the two countries which this year will mark 165 years since the establishment of diplomatic ... Read More »

Belgium major report warns that a meat tax is coming


BRUSSEL: After tobacco, carbon, and sugar, meat may be next on the list to be taxed by governments in their efforts to comply with health and environmental policies. Тhis is what a recent report published by the FAIRR initiativeargues.  Farm Animal Investment Risk and Return (FAIRR) is an initiative that informs and advises investors about the risks and opportunities related to the ... Read More »

Belgian parliament to vote on lifting anti russian sanctions


BRUSSEL: However, influential EU figures, such  European Council President Donald Tusk and German Chancellor Angela Merkel, advocated for the prolongation of sanctions at the December 14 EU summit, with Merkel underlining that lifting sanctions “would send the wrong signal” to Russian authorities, according to the EU Observer. The bloc introduced anti-Russian sanctions after the start of the Ukrainian crisis and Crimea’s reunification Russia in spring 2014. Western countries claim Russia has been meddling in Ukrainian internal ... Read More »

Belgium horticulture exporter gets global certification for standards


BRUSSEL: Local horticulture exporter, Nature Fresh Foods export has received the global certification for meeting agricultural best practices and standards. With GLOBALG.A.P certification, the firm will now find it easier to export its produce across the world without any limitations. The GLOBALG.A.P stamp of standards is global acknowledgement that Nature Fresh Foods meets Good Agricultural Practices (GAP), which gives the ... Read More »

Slower wage cost increase in Belgium than in its neighbours


BRUSSEL: In 2018, as in previous years, Belgium’s wage-cost increase was higher than Germany’s  by 3.1 percentage points  but lower than those of France (by 3.8 points) and the Netherlands (by 8.7 points). When the tax shift is not factored in, the handicap is 0.6 points against the average of the three neighbouring countries, with only Germany having a lower ... Read More »

Belgium consumer confidence index rises in January


BRUSSELS: Belgium’s consumer confidence index rose in January, as respondents became more upbeat about the Belgian economy and their employment prospects, the central bank said on Friday. The index rose to 4 points in January from 2 in the previous month. Jan 2018 Dec 2017 Jan 2017 Belgian economy 11 5 3 Unemployment -6 0 4 Household finances 0 0 ... Read More »

Brussels to blacklist UK tax heaven dependencies


BRUSSEL: The first blacklist list was published by the European Commission in December 2017, without including the 17 British dependencies linked with tax avoidance via the Panama Papers scandal. The European Commission is due to decide in February on sanctions against the countries and territories on the list, largely seen as responsible for the erosion of member states tax base. ... Read More »

Namibia resumes poultry imports from Belgium


BRUSSEL: Namibia has lifted a ban on poultry from Belgium after outbreaks of the highly contagious H5N8 bird flu in the Western European country caused trade to be suspended in June, the government said on Wednesday. Namibians, who consume an estimated 2,500 tonnes of chicken each month, have only one commercial supplier able to supply between 1,800 and 1,900 tonnes ... Read More »